TAKAFULVS

INSURANCE

Financial system

Banking Insurance

Takaful (Islamic)

Commercial Insurance

(Conventional)

•A policy from a large financial institution that offers financial protection against future losses or damages.

INSURANC

E• Is an Islamic insurance

concept which is grounded by observing the rules and regulations of Islamic law. (license)

TAKAFUL

Easy words:

Through insurance a person buys security and protection.

insurance

•Life Insurance•Medical Insurance•General Insurance

• Others

Al-Gharar (Uncertainty)

Al-Maisir (Gambling) Riba

(Interest)

takaful Mutual responsibil

ity

Mutual cooperatio

nMutual protection

TAKAFUL

Mudharabah

model(profit

sharing)

Wakalah model(agency)Combination of

both